Manchester United Stadium Revamp Could Boost UK Economy by £7.3 Billion

By Ligue Sports

Sep 24, 2024 2 mins read 112K views

Manchester United Stadium Revamp Could Boost UK Economy by £7.3 Billion

A regeneration plan of the vicinity of Manchester United’s Old Trafford football ground could pull in £73 billion ($97 billion) annually to the UK economy

A regeneration that has been proposed to take place near the Old Trafford stadium – in Manchester where Manchester United is based –could bring about £ 7.3 billion ($9.7 billion)into the British economy per annum according to an economic study undertaken by the club. However, the mayor of Greater Manchester, Andy Burnham said on Monday that no public money will be spent on the project. United is trying to decide whether to go for the new 2 billion pound project of constructing a new stadium with a capacity of 100000 or to extend the existing capacity of 74000 of Old Trafford.

Burnham has supported the plans to regenerate the stadium with a ‘mixed-use’ plan comprising apartment buildings, shopping malls, and stations for new subways.

A regeneration plan unveiled by the global advisory firm, Oxford Economics, shows the regeneration project could generate 92 thousand new jobs, 175 new homes, and 1.8 million new visitors annually.

Burnham said this could be the largest regeneration plan he has ever witnessed in this country.

‘We would like people to think that it is the best football stadium in the world and that it will bring benefits to inhabitants living nearby.’

The project is to be led by United co-owner, British billionaire Jim Ratcliffe, who acquired a minority stake in the club earlier this year.

While Ratcliffe first suggested he might seek state aid for a “Wembley of the north” sure, that option does not now seem available.

Last week United appointed internationally acclaimed architects, Foster + Partners to undertake the plans.

Feedback on the redevelopment is now being sought from the fans with ex-United skipper Gary Neville, a member of Old Trafford's regenerative task force encouraging the fans to participate.

NEXT MORE

Ligue Sports

LigueSports.com is your premier destination for the latest sports news, live football scores, fixtures, and results. Stay informed and up-to-date with comprehensive coverage of all major sports events, bringing you closer to the action with real-time updates and detailed insights.